Some factors of subjective economic well-being

Abstract

Introduction. One of the main motivations of the human community is the desire for well-being, and its subjective feeling is the basis of a full-fledged life of the individual, which is why the study of subjective economic well-being (SWB) is an urgent task of modern psychology. The term “SWB” first appeared thanks to the works of B. Strumpel and A. Campbell. The concept was defined as the result of a social comparison of the actual status of a person with his needs and perception of his own position. The purpose of this work is to analyze the influence of certain factors on the personal subjective economic well-being: income, education, health. The article provides an analytical review of the works of foreign and domestic authors devoted to the discussion of three significant factors of subjective economic well-being: income, education, health. Theoretical analysis. Comparative analysis allows us to determine the impact of income, education and health on SWB. Empirical analysis. The analysis helps to identify the positive and significant impact of the three selected factors on the SWB. Conclusion. The research results have shown that the selected three factors of SWB in developed countries are the foundation of people’s well-being. But the influence of these same factors in developing countries may be significantly lower and further research is required to confirm this fact.